Not only has Gov. Gavin Newsom vocally opposed the proposed California billionaire tax, but he also wants to prevent the state from ever passing a wealth tax in the future.
On Friday he endorsed Proposition 42, a ballot measure that would cancel out Proposition 40, the proposed billionaire tax. Prop. 42 would prohibit retroactive taxes like the one-time 5% tax on assets that would apply to any billionaire who lived in California on Jan. 1, 2026 if Prop. 40 passes.
But Prop. 42, funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, also would go further, by banning any new taxes on personal property.
That includes pensions and 401K accounts before retirees start drawing retirement income from them. It also includes other investments, financial assets, business holdings, art collections and all other forms of personal wealth that would be affected by the billionaire tax or any future wealth tax.
Newsom’s decision to support Prop. 42 runs counter to his own Democratic Party and some labor unions. It also aligns him with some of the wealthy tech donors with whom he’s maintained longstanding relationships dating back to his days as mayor of San Francisco.
The democrats aren’t much better either though. Supporting imperialist wars, being pro Zionism, receiving the majority of their funding from extremely rich people. I haven’t seen them implement some extremely obvious and beneficial policies like a proper universal income, decent minimum wages, free healthcare, etc.
Regardless of all of that, do you see a future where people actually vote for democrats consistently? After 200 years of back and forth I personally don’t see it changing any time soon.
Your definition of “much better” seems lacking.
The GOP not only supports all of those, they are the origin.
But you have seen them implement things like negotiating drug costs, building infrastructure to poor people, providing disability benefits to people affected by toxic chemicals. Is this nothing to you? Is this literally nothing? Is this not preferable to the alternative?
Does a simple preference exist? Y/N?